Is this Quantity surveyor right???

[towil]

Hi all

I had a QS in Adelaide prepare a deprec. schedule on an IP in regional SA. He did not visit the IP because of distance - i was ok with that.

He was provided with a floor plan, building completion form, DA approvals for a pergola and pool that were put in after construction. He also phone interviewed the vendor.

The report I received back gave all costs as of 1987 (yes and it is in the time window where I can claim 4% pa depreciation on construction! )

My concern is that there are things like the above ground pool, a side fence, carpet that I know from the vendor that were put in within the last 5 years - a a few other fittings as well. The cost of the pool about $5000 seems to be what it would have cost 4 years ago, but he is putting it down as $5000 in 1987.


Also there is no new effective life schedule.

I presume that more depreciation could be claimed if he corrected the report. Am I right?

Thw QS was terribly slow and inefficient and won't be getting my business for my next IP, but I wan toto get my money's worth for this IP.

Any comments or advice will be gratefully received.

ta

towil

 

[mross]

There is a good chance your QS has not done the report correctly, but if you email or fax me a copy I can give you some more specific advice.

My company is http://www.apexproperty.com.au

I'm not trying to advertise here or anything, I just thought you'd like to see the credentials before seeking assistance.


Michael

 

[towil]

hi mross

thanks for looking over my deprec schedule. Your comments and assistance have shown me just how poorly the one I had done is.

It just shows one of the difficulties in choosing a professional when your IP is interstate and you don,t consult the forum first.

But this all happened before I was aware of the forum- and all the terrific people who give so willingly of their expertise and advice.

I hope others can learn from my experience.

Regards
towil

 

[geoffw]

towil,

For the benefit of the forum.

Obviously, Michael has given you some benefit. Excellent stuff!

But, are you (or mross) able to give some info as to to the things the first QS got wrong, or omitted, it may be of value to everyone.

It doesn't need to be specific. But some general pointers might be valuable.

Michael, we have a number of professionals who give advice on this forum. I would suggest that by giving advice publicly, they may have also benefitted in their business. That's fine.

If you have a few pointers you can give in the forum, that could also help us all to get to a win/win.

 

[mross]

Geoffw,

I have no problem providing specific advice on the forum. I am a QS and I'm disappointed with the general quality of tax depreciation work, apart from a few exceptions.

I asked towil to send through some information because I didn't really understand what he was asking.

In short his depreciation schedule wasn't really very useful. There are a couple of things people should look for when seeking a QS to do their work:

1. The QS must do a site inspection or at least have very detailed drawings to work from. If they are doing their job correctly they will count every light fitting, every blind etc etc

2. Be sure that the QS is providing a "depreciation schedule" and not just a "schedule of construction cost". The latter is just a breakdown of what the building would have cost to build.

3. Make sure the QS knows what is meant by the terms Low-value pool and divisions 40 and 43. If he's never heard of them, he isn't very good at tax depreciation.

I'm happy to provide specific advice on this forum and privately if required.

Michael

 

[Dr.Bob]

Hi mross,

Can you suggest a local QS in Adelaide?

Regards, Dr. Bob

 

[mross]

Dr Bob,

I don't of any good QS's based in Adelaide but I know there are a few "national" firms who operate from a central location but have small local operations, some examples are:

Depreciator
Deppro
Napier & Blakeley

My company has a Melbourne office which services Adelaide, but this means we send someone over there once a month or so to do a list of jobs.

If you are in no hurry I'd be happy to help you. Send me a private message or email if you'd like us to look into it.

Michael

 

[sleepingwood]

Have searched through the archives looking for a recommendation of a good QS in Adelaide.

Can anyone recommend one?

Thanks for any assistance.

Sleepingwood